Lock-Up Account definition
Examples of Lock-Up Account in a sentence
Notwithstanding anything herein to the contrary, in accordance with the provisions of Sections 2.02(b), 2.05(b) and 4.05(c), the Lock-Up Account and any funds, cash, Securities Entitlements credited thereto and any proceeds thereof shall be held by the Collateral Agent solely for the benefit of the Lenders until all Credit Agreement Obligations shall have been indefeasibly paid in full in cash.
The Equity Lock-Up Account shall be funded in accordance with clause “Fourteenth” of Section 5.03(b).
Other than in relation to the Lock-Up Account, the Parent and each Debtor shall be free to deal with (including making withdrawals from) its accounts unless an Acceleration Event has occurred even if this may have an impact on the validity of the security.
Following delivery of such Compliance Certificate, the Company may make withdrawals from the Lock-Up Account at its discretion.
Upon the conclusion of a Lock-Up Period, the Borrower shall be entitled to withdraw monies from the Lock-Up Account by delivering to the Collateral Agent a Withdrawal Certificate signed by the Borrower.
DRP hereby certifies that such amount is not in excess of the amount of funds in the Equity Lock-Up Account on the Distribution Date.
Subject to Section 2.03(b)(ii), at any time that a Lock-Up Event has occurred, until such time as the Borrower is again permitted to make Restricted Payments in accordance with the terms of Section 7.05(c), all amounts on deposit in the Lock-Up Account shall be applied in accordance with the terms of Section 7.05(d) and the Security Agreement.
Luxco2 shall enter into and deliver such instruments, documents and agreements and registrations and other deliveries as may be reasonably required to give effect to the Distribution Stop and creation and protection of the Purchaser’s security interest in the Luxco2 Lock-Up Account and Luxco2 Special Collateral Account, including control agreements, blocked account agreements and acknowledgements from the institution holding the Luxco2 Lock-up Account and Luxco2 Special Collateral Account.
Such amounts are being used to pay for O&M Expenditures, and DRP hereby certifies that other moneys are not available therefor from Draw Availability allocated to the Ramp-Up and Project Operating Reserve Account or in the Operating Accounts, the Revenue Account, the Repair and Replacement Reserve Account or the Equity Lock-Up Account in accordance with the Collateral Agency Agreement.
This certificate (this “Distribution Release Certificate”) is delivered to you in connection with Section [5.02(b)] [and 5.11(b)] of the Collateral Agency Agreement and in connection with the transfer of funds from [the Revenue Account] [Equity Lock-Up Account] to the [Distribution Account by [Insert Applicable Repauno Entity][payment of Permitted Subordinated Debt by [Insert Applicable Repauno Entity]].